A forum for associates to speak out about law firm issues

Formulating an exit strategy

At some point during their careers at BigLaw, the vast majority of associates decide–for a variety of reasons–that it’s time to get out of the rat race and move onto something else in their lives. At that moment, an associate has mentally “checked out” of the firm even though he or she is still physically present.

This week, we delve into the exit strategy: the plan by which associates who have decided to leave their respective firms can find a new job without prematurely alerting the partnership of what is going on. There’s a lot more to this process than you may first think. Consider the following:

1) How do you interview at other firms or for other jobs without announcing your absence?

2) Do you use a headhunter or not? What are the advantages and disadvantages?

3) If you do retain a headhunter, can he or she be trusted not to leak the information that you are seeking a new job?

4) Once you’ve been given an offer conditional on your references “checking out”, but one or more of those references has to be a partner at your current firm, how do you handle that situation?

5) What if the offer is dependent on clearing conflicts, which require client approval?

6) How do you avoid getting staffed on new cases during the process of implementing your exit strategy?

7) At what point in time do you give notice? What is the most effective way to do so?

8) Are there terms that can be negotiated with your current firm after giving notice? (The answer is yes!)

9) How do you explain your departure without burning bridges?

10) What considerations should you take into account with respect to current clients when you leave the firm?

These questions, as well as others, will be the topic of discussion for the next couple weeks.